Korea Finance Society Ltd

Nonprofit profile at a glance

EIN
461209817
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-N 2022
Location
Brooklyn, NY, USA
Phone
6073732818
Rating
54
Verdict
MIXED
Rating confidence
Moderate
Sector
Alliance/Advocacy Organizations

Reported finances

Revenue
$397,366
Expenses
$277,082
Assets
$267,193
Liabilities
$8,077

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • MARK KIM (PRESIDENT)

People named in this filing

  • MARK KIM (PRESIDENT)
  • DONGJIN KIM (TREASURER)
  • MICHAEL JOO (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Kfs serves to build a community to promote the development of global korean finance professionals through networking, education and mentorship - to empower members to give back to the community

What it reported doing in 2024

Building a stronger community for global korean finance professionals through speaker series, educational workshops, and mentorship program for college students and young professionals

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 90
  • Accountability: 6
  • Sustainability: 63
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53.3%; rating input score 53
  • Program expense ratio: 76.1%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 30.3%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 0.96; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -79.6% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -35.9% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 50.9% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 53.3% of revenue deployed · 76.1% of spending went to programs
  • Governance: 0 of 10 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $211K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 53/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.